Rental Market Commentary April 2010

The rental market is starting to show signs on stability. With the number of properties for rent in most areas matching the number of tenants looking for a new home. More and more areas are starting to push rents upwards - as shown by FindaProperty's index rental yields have moved slightly from 4.45% to 4.54%. The latest leglislative changes that ARE now in place - check whether you are breaking the law or not! READ MORE.

Top Performing AreasFindaProperty Index shows for the first time London to be one of the best performing area, with rentls up 4.5% year on year and 0.7% month on month. North West shows great performance with prices up 6.5% YoY and nearly 1% growth month on month. Scotland continues to do well with rents up 0.9% YoY, although monthly rents show a slight fall of 0.6%.

The worst area continues to be the North East England, down 3.4% YoY and -1.3% month on month. Yorkshire and Humber is replaced by East of England as the next worst performing rental area with prices down by 2.5% YoY and nearly 1% down month on month.

Belvoir Lettings Regional Lettings IndexBelvoir is one of the top franchised letting agents in the UK and takes pride in ensuring they let quality properties legally and at fair prices. They have over 140 offices across the UK and kindly let us have access to their national and regional lettings index:-

The following figures show that there are real regional differences across the UK, with the South recovering well in the last quarter, only to fall back January to March, while the 'North' seems to be doing quite well. Overall though, the Belvoir Index shows, like FindaProperty that prices are stabilising both year on year and over the last few months.